In November, BDO Jordan-Islamic Financial Advisory Services (IFAS) signed a Memorandum of Understanding (MOU) with The International Islamic Rating Agency (IIRA) at the 2010 World Islamic Banking Conference (WIBC) in Bahrain. The MOU establishes a framework for cooperation between the two organizations for conducting workshops and awareness sessions in target markets, where each organization will capitalise on its competencies and strengths to advance and expand the Islamic Financial Industry.
Mr. Nasser Ali Merchant, Acting Chief Executive Officer IIRA and Mr. Mohammad Al-Nobani, Managing Partner BDO Jordan signed the MOU representing their respective organizations.
Mr. Faheem Ahmad, President & CEO JCR-VIS Credit Rating Company Ltd. Pakistan/IIRA Board Member, Mr. Husam Sha’ath, Partner BDO Jordan-IFAS, and Dr. Khawla Al-Nobani, Partner BDO Jordan-IFAS attended the signing event.
The Islamic International Rating Agency (IIRA) is the sole rating agency established to provide capital markets and the banking sector in predominantly Islamic countries with a rating spectrum that encompasses the full array of capital instruments and specialty Islamic financial products, and to enhance the level of analytical expertise in those markets. Its shareholders are based in eleven countries, which constitute the agency’s primary marketing focus.